Fed President's 'Economy' Statement is Expected

Fed President's 'Economy' Statement is Expected

After the Fed announced that it would buy personal corporate bonds, the major damaged US stock market rose again on Monday. Although the fear of the second wave of the coronavirus exerts pressure on global exchanges, investors can still raise concerns about the progress of reopening. On Tuesday, Fed President Jerome Powell will testify to Congress on economic prospects. Retail data for April will be shared, and technology giant Oracle will report its fourth-quarter financial income. FED CHAIRMAN TO DELIVER STATEMENT ON ECONOMY Powell will publish his views on the economy and recent monetary policy decisions on Tuesday at 17:00 US Eastern Standard Time on the Partners (NASDAQ: JYNT) Economic Committee. Last week, the Fed did not cut interest rates close to zero and said the central bank would do its best to support the economy. The United States Central Bank (Fed) said on Friday that small businesses are particularly vulnerable. The Fed said on Monday that it will buy individual corporate bonds to support market liquidity as well as buying stock mutual funds. DECREASE IN RETAIL SALES IN APRIL After retail sales are available for sale at 15.30 today, monthly sales in April are expected to drop from 21.6 percent of the previous month to 8 percent. Core retail sales excluding automobiles are expected to decrease by 5.4 percent, down 17.2 percent compared to the previous month. THE FOURTH QUARTER REPORT OF ORACLE COMPANY IS WAITING Oracle Corporation (New York Stock Exchange: ORCL) will report earnings on Tuesday, followed by VoIP and Internet broadcasts. Expecting its earnings per share to be $ 1.16 and revenues of $ 10.7 billion, the technology giant was the first to report a quarter of the entire quarter, and after the coronavirus outbreak, their business had come to a halt. For this reason, analysts will listen to their opinions about the company's expectations and move towards the cloud-based subscription sales model, which generates about three-quarters revenue.